Financial regulation

Three Stone have experienced practitioners who specialise in financial services regulatory work and act for a wide range of clients on a wide range of financial services regulatory issues, including:

  • Commercial disputes involving financial services regulatory issues;
  • “Perimeter” issues on the scope of regulated activities and restricted financial promotions under the Financial Services and Markets Act 2000 and EU legislation;
  • Applications for FSA authorisation, variation of permission and approval;
  • FSA supervisory, prudential and conduct of business issues under FSA rules and EU legislation;
  • FSA investigations and enforcement actions;
  • Consumer redress; and
  • Consumer credit cases.

Members of Three Stone can be instructed directly (on a public access basis) or through a solicitor – and clients range from FSA authorised firms, and other product providers, advisers and intermediaries, to sophisticated and professional investors and consumers.

Members of Three Stone also advise on, and draft submissions, correspondence and other written material in connection with:

  • Clients’ dealings with relevant units within the FSA, including its perimeter enquiries, authorisation and enforcement teams;
  • The design of appropriate organisational and contractual arrangements and procedures to comply with regulatory requirements; including:
    • For non-FSA authorised persons, exclusions from the general prohibition on carrying on regulated activity without FSA authorisation and exemptions from the restriction on making financial promotions; and
    • For FSA authorised persons, FSA prudential and conduct of business rules;
  • The drafting of compliant financial promotions including investment brochures and information memorandum;
  • Preparations for, and responses to, FSA supervision visits and enquiries, thematic and other reviews, and enforcement investigations;
  • Consumer complaints to the Financial Ombudsman Scheme and applications to the Financial Services Compensation Scheme; and
  • Regulatory issues relevant to contractual disputes and professional negligence claims.